Cost of Living in Ferndale, MD

With a cost of living index of 115, Ferndale, MD is somewhat more expensive than average. Living here is 15% more expensive than the national average and 4% below the Maryland state average of 119. Ferndale is a smaller community of 17,076 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Ferndale's cost of living. The median monthly rent is $1,708 (29% above the US median of $1,319), and the median home value sits at $325,400 (7% above the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ferndale is $92,391, which is 23% higher than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Ferndale. The area sees an average annual temperature of 56.2°F, with summers averaging 76°F and winters around 37°F. Annual rainfall totals 45 inches spread over roughly 121 days.

Everyday prices in the Baltimore-Columbia-Towson, MD (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.